CyCare Systems Inc. and Physmark Inc. form managed-care alliance.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 6, 1996--CyCare Systems Inc. (NYSE NYSE See: New York Stock Exchange :CYS) Monday announced it has signed a marketing agreement with Physmark Inc. to market its MEDICOMP product line. Based in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. with offices in Dallas and Denver, Physmark is the leading provider of managed-care information systems to integrated health-care delivery systems, such as physician hospital organizations (PHOs), management service organizations (MSOs) and independent practice associations (IPAs). MEDICOMP is a comprehensive software solution that provides capitated contract management, referral authorization and claims adjudication The legal process of resolving a dispute. The formal giving or pronouncing of a judgment or decree in a court proceeding; also the judgment or decision given. The entry of a decree by a court in respect to the parties in a case. , member and provider relations, and provider profiling functionalities. MEDICOMP uses Oracle Corp.'s relational database relational database Database in which all data are represented in tabular form. The description of a particular entity is provided by the set of its attribute values, stored as one row or record of the table, called a tuple. , operates in an open environment, and runs on client/server technology for faster and more flexible processing. Jim Houtz, president and chief executive officer of Cycare, stated, "After an extensive search of the industry, the Physmark product was selected because of its technological leadership and its broad functional capability. "This agreement will strengthen CyCare's current managed-care product line and provides an ideal solution for those health-care delivery organizations seeking a comprehensive risk management system that utilizes a graphical user interface graphical user interface (GUI) Computer display format that allows the user to select commands, call up files, start programs, and do other routine tasks by using a mouse to point to pictorial symbols (icons) or lists of menu choices on the screen as opposed to having to . Because we share common philosophies and product direction, we improve our ability to provide customers the solutions they need today, which strengthens the presence of both companies in the marketplace." According to Jacob Kuriyan, Ph.D., president of Physmark, "CyCare is the premier software vendor for large group practices, which are fast becoming the nuclei of integrated health-care delivery systems, and Physmark's MEDICOMP has the largest installed base of PHO clients. Together, we will offer the best-of-breed solution to our clients." CyCare Systems is one of the nation's leading providers of information systems, related support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services and electronic data interchange See EDI. (application, communications) electronic data interchange - (EDI) The exchange of standardised document forms between computer systems for business use. EDI is part of electronic commerce. (EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. ). CyCare assists medical group practices, faculty practice plans and integrated health-care networks in reducing costs while improving quality. Founded in 1967, CyCare currently serves more than 50,000 practitioners through nine offices across the United States. CyCare operates product, sales and service centers located in Scottsdale; Atlanta; Bedminster, N.J.; Chicago; Dallas; Dubuque, Iowa; Minneapolis; Omaha, Neb.; and San Diego. CONTACT: CyCare Systems Inc. Jeff E. Cramer, 602/596-4325 or Physmark Inc. Jacob Kuriyan, 505/897-7500 or Silverman Heller Associates Lynne P. Farris, 310/208-2550 |
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